QuantumScape (NYSE:QS) Stock Price Down 0.5% - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report)'s share price dropped 0.5% on Thursday . The stock traded as low as $4.97 and last traded at $5.01. Approximately 4,191,712 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 18,150,969 shares. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QS. Truist Financial reiterated a "hold" rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. Finally, Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, QuantumScape presently has a consensus rating of "Hold" and an average target price of $6.26.

QuantumScape Price Performance

The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.63 billion, a PE ratio of -5.39 and a beta of 4.46. The stock's 50-day moving average is $5.26 and its two-hundred day moving average is $5.70.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the company earned ($0.23) earnings per share. On average, equities analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In other news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares of the company's stock, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the transaction, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 536,460 shares of company stock worth $2,903,619. 12.03% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in QuantumScape by 1.5% during the third quarter. State Street Corp now owns 5,918,496 shares of the company's stock valued at $34,031,000 after purchasing an additional 87,563 shares in the last quarter. Geode Capital Management LLC grew its position in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock worth $33,671,000 after buying an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of QuantumScape by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock worth $12,806,000 after acquiring an additional 93,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of QuantumScape by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company's stock valued at $6,785,000 after purchasing an additional 94,103 shares during the last quarter. Finally, Arthedge Capital Management LLC raised its stake in QuantumScape by 14.6% in the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company's stock valued at $4,157,000 after buying an additional 92,000 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.

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